Uzbekistan and Kogas signed a direct agreement on a construction of gas chemical facility

The Government of Uzbekistan and South Korean Korea Gas Corporation (Kogas) signed a direct agreement on a construction of the Ustyrtsky gas chemical combine on the north-west of Uzbekistan at $3.9 billion, the source in the fuel-and-energy company of the Cabinet of Ministers of the republic said.

“The direct agreement contains a supplementary protection of the interest of the creditors and investors of the project,” the source stated. In particular, the structure and hedging rate have been agreed, the terms of replacement of the participants and compensation on an exit has been regulated.